ECB: Monetary policy decisions

ECB Governing Council and Press Conference in Riga, Latvia. ECB photo, some rights reserved. This article is brought to you from ECB’s Media Services On 14 June 2018 meeting, which was held in Riga, the Governing Council of the ECB undertook a careful review of the progress towards a sustained adjustment in the path of […]

Draghi to hold on zero interest rates until he leaves ECB

The announcement of the end of the monthly money injections into Eurozone by Mario Draghi, the President of the European Central Bank was not received in the capital markets as a hawkish toughening of monetary policy, as it theoretically should have been. The reasons are many. On the contrary, the euro lost more ground with […]

Central banking in times of complexity

Panel remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at a conference on the occasion of Sveriges Riksbank’s 350th anniversary, Stockholm, 25 May 2018. Brought to you by the European Sting from the European Central Bank site. It is fitting that we are discussing the future of central banking here in […]

Draghi joined Macron in telling Germany how Eurozone must be reformed

Mario Draghi the President of ECB, speaking at the European University Institute in Florence, on 11 May 2018, must have been under the influence of the idealistic aura of this Florentine learning institution. He went as far as proposing political policies, bravely overstepping his role as central banker of Eurozone. Draghi asked for an effective […]

The ECB must extend its money stimulus beyond 2018: Draghi reckoning

Last Thursday, 26 April Mario Draghi, tactfully left it to be understood that Eurozone may not any more grow so fast as we all knew it was doing until recently, and, consequently, the inflation goal of close to 2% may not be achievable. He communicated that by not repeating what he had said on 8 […]

Germany resists Macron’s plan for closer and more cohesive Eurozone; Paris and Berlin at odds

Last week, surprising everybody, Francois Villeroy de Galhau, Governor of the Bank of France and member of European Central Bank’s Governing Council said that the decision to stop ECB’s extraordinarily accommodating monetary measures this year, is premature. So, according to him, the central bank must continue applying its extra relaxed measures well beyond this year. […]

Draghi strives to control the unruly exploitation of financial markets by banking leviathans

During the past few weeks, financial markets sharks have been sending stock and bond prices and money parities wildly up and down, while busy securing for themselves hefty short term gains. Obviously, this is to the detriment of the real economy, where values are produced by technology and sweat. In Europe and, partly, in the […]

Draghi tells the EU Parliament his relaxed policies are here to stay

The too slow or non existing pace of wage increases is the main reason for the non revival of inflation in Eurozone. This is what Mario Draghi told the Economic Committee of the European Parliament last Monday. He added that this is why the economic slack in the euro area may be larger than we […]

ECB to people: Not responsible if you lose money on Bitcoin, your governments are

Last Tuesday, 13 February Mario Draghi, the President of the European Central Bank in the most solemn terms said regulating or even banning Bitcoin “it’s not the ECB’s responsibility to do that”. However, he didn’t refrain from eagerly pointing out the very risky and misty nature of the digital ‘monies’. So, when asked again if […]

‘Safe Eurobonds’: a new trick to betray the south euro area countries

All along the years after the 2008-2010 financial crisis, which in the European Union took the form banking/government debt breakdowns starting with Greece, there were cries for the creation of a solid Eurozone. In every respect, these calls amounted to demands that super prosperous Germany accepts some degree of risk-sharing with the rest of the […]

A Trumpist squad shook Davos and the world

Towards the end of last week, in Davos, a money devaluation war broke out. In the ‘magic’ Alpine mountains American Trumpist dignitaries did what was expected of them: they told the world they don’t give a damn about it…Trump himself, however, appeared a bit less Trumpist than his folk. Overall though, a US administration squad […]

Will the end of QE come along with ECB’s inflation target?

The European Central Bank (ECB) will end its Quantitative Easing (QE) programme within the year as the Eurozone continues growing. However, the inflation rate which is not increasing as much as the ECB officials would like, stands as a barrier to its monetary policy. According to Reuters, sources close to the ECB mentioned that the […]

Draghi keeps the euro cheap, helps debt refinancing, recapitalization of banks and growth

Last Thursday, the European Central Bank decided to keep flooding the Eurozone with hundreds of billions, despite strong objections coming from the frugal German-Dutch duo. Mario Draghi was adamant about that. It’s interesting to follow his response to a journalist’s remark, who reminded him that the “Dutch Central Bank President Klaas Knot said in a […]

Fed, ECB take positions to face the next global financial crisis; the Brits uncovered

The appointment of Jerome Powell as the next head of the US central bank, the famous Fed, is a reassurance to the financial world that the giant lenders will continue being favored by ample and very cheap money. Last Thursday, Donald Trump, the American President didn’t dare to change the cautious approach to monetary policy. […]

Extra mild ECB tapering of QE and zero interest rates keep euro low

Last Thursday, Mario Draghi, the President of the European Central Bank performed again his superb balancing act, between the needs of the South and the demands of the North. He led the Governing Council of ECB, Eurozone’s most powerful body, to map the exit road from the extraordinary monetary measures (Quantitative Easing) state as frictionlessly […]

German political spillovers: ECB’s Draghi resists first attacks by AfD

Last Monday, Mario Draghi, President of the European Central Bank, speaking at the Economic Committee of the European Parliament had the opportunity to test the grounds and familiarize himself with the nature of political climate he may come across after the German elections. He had a heated exchange with the head of the AfD group […]

Draghi’s 2018 compromise: enough money printing to revive inflation and check euro ascent

Last Thursday Mario Draghi, the President of the European Central Bank, reassured the Eurozone banking conglomerates they will continue being blessed with zero cost money, well into the foreseeable future. He stated, “one thing is clear; the bottom line is that interest rates will stay, as it’s written here, at the present levels (zero for […]

Is euro to repeat its past highs with the dollar?

The strengthening of the euro vis-à-vis the US dollar is taking alarming proportions, puzzling markets and the European Central Bank. The Eurozone single currency has gained 14% from the beginning of the year, with the tempo of appreciation accelerating. It gained around 10% during the summer. For around three years, the ECB has been following […]

Has the EU economy truly revived from the financial crisis?

Last week the European Commission published a press release regarding EU’s recovery from the financial crisis where it is mentioned that the EU, after 10 years since that start of the crisis, is back to growth because of the EU influential actions. What is more, it was announced yesterday that Germany’s gross domestic product in […]

Berlin vies for a Germanic European Central Bank

Last week, the deep German state struck again targeting the heart of Eurozone. The hit was effectuated by Sabine Lautenschläger, a middle aged Stuttgart born ex BaFin (Federal Financial Supervisory Authority) employee and presently member of the powerful executive board of the European Central Bank. Sabine now wants the ECB to abandon its extraordinary monetary […]

The ECB accuses the politicians of inaction, continues injecting billions to banks

Last Saturday 8 July the Belgian newspaper De Standaard published an interview with Peter Praet, Member of the Executive Board and chief economist of the European Central Bank. Praet said it plainly “We do say that we still need a long period of accommodative policy before we are ready”. What he means by ‘being ready’ […]

ECB intervenes to clean May’s and Schäuble’s mess

Last Thursday 8 June, on the day the Britons were punishing Theresa May for her mistakes and arrogance, the European Central Bank under Mario Draghi was preparing for a less favorable politico-economic environment and a much longer disinflationary period. Indirectly, Mario Draghi blamed the dying out inflation on the avowed neoliberals, of the kind of […]

Germany caught with selfish double standards in euro area policy

Over the past three years the European Central Bank, guided by its President Mario Draghi, has been folowing a super relaxed monetary policy. It has been aiming at reviving uncertain economic growth and dying inflation, by handing out to banks, and through them to the economy, hundreds of billions of euro and at the same […]

The ECB again takes care of the bankers not the people

Last week the European Central Bank surprised everybody by letting it be known that interest rates will “remain at present or lower levels for an extended period of time, and well past the horizon of our net asset purchases”. To be noted, presently, the main refinancing operations interest rate is zero. Of course, the markets […]

Trump to subject the Fed, challenge the ECB and make Wall St. bankers even richer

It’s obvious by now that the European Central Bank and its President Mario Draghi are following a diametrically opposite monetary policy than the American central bank, the famous FeD. Both Draghi and ECB Vice President Vítor Constâncio have loudly reassured everybody that the Eurozone’s central bank will continue injecting €60 to €80 billion a month […]

ECB steadily continues monetary easing policy as EU economy gains momentum

European Central Bank – Press Conference Vítor Constâncio, Vice-President of the ECB, Mario Draghi President of ECB and Christine Graeff, Director General Communications (from left to right). Location: Frankfurt . Date: 09/03/2017 © ECB, 2017 / Source: ECB – Audiovisual Service It was last Thursday when the president of the European Central Bank gave a […]

The four top Americans who flew to Europe perplexed things about Trump’s intentions

Four top ranking Washington bigwigs – who flew to Munich, Brussels and Bonn to mend fences with Europe, after Donald Trump termed NATO ‘obsolete’ and rejoiced the unraveling of the EU, left the Europeans bewildered with the dangerously diverging stories they had to narrate. Only the extreme right wing, Polish Defense Minister Anton Macierewicz seemed […]

Davos: Why the global elites couldn’t find answers this year?

Last January, Donald Trump and Boris Johnson were not invited to Davos to present their populist, anti-systemic, anti-establishment, anti-globalization political platforms. Actually, their ‘ideology’ was exorcised from the Swiss Alps and instead, David Cameron was made the star of the three day 2016 meeting. The world’s super rich and powerful applauded his passionate speech about […]

Germany and Europe prepare for Trump’s America

Germany, and more generally the EU, is now preparing in earnest to confront the groundbreaking changes in their relations with Trump’s America. Last week, both the German Chancellor Angela Merkel and her Federal minister for Finance Wolfgang Schauble, made direct and indirect statements about the policies now needed for Germany and the European Union. On […]